10Minutes on current developments for directors

March 2009
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Current developments for directors

At a glance

The economic crisis has markedly changed the business and regulatory landscape. Which long-held assumptions about market forces are losing currency, and what will take the place of those assumptions? Here, directors step in with their hands-on experience and wisdom to help management negotiate the new terrain and ultimately keep their companies on course.

With the markets still in crisis, many businesses are focused more on day-to-day survival than on the emerging economic reality. To successfully adapt to the new order, businesses will need to keep an ear to the ground, determining which long-held assumptions about market forces are losing currency. What takes the place of those assumptions will reflect both the changing business landscape and the evolving regulatory environment. Directors are bringing their diverse experience and wisdom to bear as they help management negotiate the new terrain. 10Minutes discusses what that entails, pointing to actions directors are taking to keep their companies on course.

Highlights

  • The economic crisis highlights the need for a radical rethink of how companies run their businesses—everything from their operating plans to their business models.
  • Some Fortune 500 companies have begun adopting key governance reforms to get a head-start on anticipated regulatory change.
  • Companies are acknowledging risks in new and different ways, being alert to how rapidly risk can proliferate in the global economy’s inextricably connected markets.
  • Directors must demonstrate to investors, the public, and Washington that they’re actively overseeing key business decisions and are accountable for them.

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